Most Economists and Market Pundits In De-nile – Walk Like an Egyptian

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by Jesse “No regulatory penalties, no criminal indictments for fraud, no clawbacks, no prohibitions of bonuses at least during early phase of financial market recovery, all of this sticks in my mind as unjustifiable— and imprudent, as it taught a lasting lesson that bankers had immunity.” Dr. Harald Malmgren “At the recent market peak, the … Read more

Trump signed a bill lowering medical costs.

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“If there’s anything bipartisan, it’s lowering drug prices,” Trump said, adding that signing the bill representing him delivering on his healthcare promises. The first measure applies to people who are covered by private health insurance and goes into effect immediately. The second measure applies to patients who are covered by Medicare, the government program for … Read more

Big Bounce In The Works?

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by Chris Well, they should be crowing about a huge bounce in the S&P futures in the hour after the “”markets”” closed. Where the cash market finished with a big sell order, the S&P futures are up 23 full points since then.  “Somebody” is making a statement here. Not sure who, but I have my … Read more

Has the long-awaited correction begun? Could it lead to a crash? I’m busy trying to make sense Of all this…

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by Chris I’m working away, gathering and scouting information, trying to figure out if “this is it.” Has the long-awaited correction begun?  Could it lead to a crash (which I’ll define as an event so powerful that markets remain closed for more than two days in response)? There are a lot of cross-currents to try … Read more

SPX choppy waters ahead – catching down fast now , second heavy day in a row

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https://twitter.com/MacroTechnicals/status/1050534022261211136 Down to 52% of stocks in the S&P 500 above their 200-day moving avg, fewest since May. Another big down day and it will be the fewest since early 2016. $SPX. pic.twitter.com/IFpND15c6o — Charlie Bilello (@charliebilello) October 11, 2018 Interesting that Trump blames the Fed when Powell only has direct control over the front … Read more

TRUMP NEEDS TO READ THIS

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by Jim Quinn Trump is right. The Fed is to blame for the coming crash. But, the crash is not because of their tightening. The crash is coming because of their 8 years of 0% interest rates. Real interest rates are still negative. Only an idiot would say the Fed is too tight. Trump reveals … Read more

Hurricane Michael Flattens Whole Sections Of Florida Panhandle In Worst Storm Ever Recorded In the Area

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by Geoffrey Grider Incredible footage from the eye of Hurricane Michael has emerged as the Category 4 storm battered Florida’s Panhandle with one of the most powerful hurricanes ever to strike the U.S. mainland, leaving at least five people dead and blitzing every home in its path. Hurricane Michael spent a very short time as a hurricane in the … Read more

When Taylor Swift Comes Out For Democrats, She’s Brave, A Role Model; When Kanye West Comes Out For Trump Mentally Ill

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Take the recent blockbuster story that singer Taylor Swift prefers Democrats over Republicans. Yes, the 28-year-old who dropped out of high school and later earned a GED, on Sunday declared that she opposes Tennessee Republican Sen. Marsha Blackburn, a Republican. “Her voting record in Congress appalls and terrifies me. These are not MY Tennessee values,” … Read more

Seattle Doom! Risk of power outages rises in Puget Sound after Canadian pipeline explosion cuts off natural-gas supply

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A pipeline explosion in British Columbia on Tuesday has cut off the flow of Canadian natural gas into Washington, raising the risk of power outages around the state. Puget Sound Energy (PSE), Avista Corp. and Cascade Natural Gas said Wednesday that their gas supplies had been disrupted due to the explosion that occurred a day … Read more

Amid Market Rout, Decade of “Financial Repression” Ends, Capital Preservation Suddenly is a Thing

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Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter This will dog the stock market going forward. Fixed-income investors – a financially conservative bunch buying Treasury securities, FDIC-insured CDs, and similar products that largely eliminate risk – have been getting crushed for a decade: Except for brief periods when inflation dipped to near zero or below zero, their minuscule returns … Read more

BMO: “Expect More Downside”

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via ZeroHedge  While total volume in single name stocks and especially ETFs soared yesterday exploded amid the broad hedge fund and systematic selloff, a different picture emerges when trying to measure how one-sided the bearishness of yesterday’s action was. As BMO technical analyst Russ Visch writes in his morning note, a better way of visualizing … Read more

The real reason to break with the Saudis

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From Daniel McAdams at the Ron Paul Institute: Sudden concern in Washington over Saudi behavior is puzzling. But the disappearance of a Washington Post writer and the suspicion that the Saudi government is involved has led Washington and particularly the Senate and House to demand some answers. They didn’t care much about Saudi involvement with terrorists in Syria … Read more